`60K-cr RBI credit line for Yes Bank Puri temple deposits moved to SBI
New Delhi, March 19: The Reserve Bank has opened an emergency line of credit of around Rs 60,000 crore to Yes Bank to meet any liquidity crisis in paying back its depositors as the bank has resumed normal operations from Thursday.
The additional liquidity arsenal is in line with Section 17 (4) of the RBI Act and also is a reaffirmation of the governor's statement on Monday that the central bank was ready to provide all the necessary liquidity support to Yes Bank.
The move comes after 16 years when a similar credit line was opened for Global Trust Bank in 2004.
The line of credit of about Rs 60,000 crore, however, comes with a caveat-the first such, the sources said. A senior central bank officer, who wished not to be named, said, "We've opened an emergency line of credit ready for Yes Bank worth Rs 59,000 crore to meet any eventuality on the liquidity front."
"The credit line is balanced
New Delhi, March 19: Yes Bank on Thursday said it has transferred a
`389-crore fixed deposit account of Shree Jagannath Temple Administration, Puri, to State Bank of India.
The fixed deposit (FD) account of the temple has accrued a total interest of
`8.23 crore.
“As per the term of condition of FD placed with us, Yes Bank Ltd has fully paid all the quarterly interest on time up to December 31, 2019. The remaining interest that has accrued till March 19,
2020, has been remitted along with the principal
against the bank's current account balance which is of same amount as of now," the official told PTI on Thursday—a day when the lender completes a full-day of normal services after the 13 days of amount of `389 crore to State Bank of India account of Jagannath Temple Corpus Fund,” Yes Bank on Thursday said in a letter, accessed by PTI.
In the letter addressed to Chief Administrator Krishan Kumar of the famous temple shrine in eastern India, Yes Bank said it has two more FDs of Rs 156 crore which will be transferred by the end of this month.
These FDs of `156 crore are also under no-premat option which does not allow the bank to pay prematurely, the letter said.
“As the extended guidelines
moratorium and curbs.
Though the bank has begun normal operations, many of its branches bore a deserted look, partly amid fear of coronavirus infection.
The bank resumed full of the regulator, we shall remit the principal amount of `156 crore and interest up to date on the date of maturity that is March 30, 2020, to the designated account of Jagannath Temple Corpus Fund...to SBI Main Branch Puri,” Yes Bank said in the letter undersigned by its Senior Vice-President Jaydev Das.
Yes Bank resumed its full banking services from Wednesday evening and customers started visiting the branches from the morning of Thursday. operations from 6 pm on Wednesday. PTI visited four branches of the private lender - two in the central suburb and two in Navi Mumbai, where hardly one to two customers were seen.